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Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings per Share [Abstract]  
Reconciliation of Basic and Diluted Earnings per Common Share



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Year ended December 31,



2018

 

2017

 

2016

Numerator: Basic (1)

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders:

 

 

 

 

 

 

 

 

Continuing operations

$

 4,787 

 

$

 (9,362)

 

$

 1,390 

Discontinued operations

 

 -

 

 

 -

 

 

 657 

Total Net earnings (loss) attributable to common shareholders

 

 4,787 

 

 

 (9,362)

 

 

 2,047 

Less: Allocation to participating securities

 

 (67)

 

 

 (56)

 

 

 -

Net earnings (loss) attributable to common shareholders, net of amount allocated to participating securities

$

 4,720 

 

$

 (9,418)

 

$

 2,047 



 

 

 

 

 

 

 

 

Numerator: Diluted (1)

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders from continuing operations, net of amount allocated to participating securities

$

 4,720 

 

$

 (9,418)

 

$

 1,390 

Dividends on Series D Preferred Stock

 

 -

 

 

 -

 

 

 3,090 

Interest and fair value adjustment on Convertible Debt

 

 (6)

 

 

 -

 

 

 -

Continuing operations - Diluted

 

 4,714 

 

 

 (9,418)

 

 

 4,480 

Discontinued operations - Diluted

 

 -

 

 

 -

 

 

 657 

Total Diluted

$

 4,714 

 

$

 (9,418)

 

$

 5,137 



 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Weighted average number of common shares - Basic

 

 11,784,222 

 

 

 9,437,824 

 

 

 761,112 

Performance Based Share Awards

 

 4,285 

 

 

 -

 

 

 -

Series D Preferred Stock

 

 -

 

 

 -

 

 

 4,774,433 

Convertible Note

 

 97,269 

 

 

 -

 

 

 -

Weighted average number of common shares - Diluted

 

 11,885,776 

 

 

 9,437,824 

 

 

 5,535,545 



 

 

 

 

 

 

 

 

Earnings Per Share

 

 

 

 

 

 

 

 

Continuing operations - Basic

$

 0.40 

 

$

 (1.00)

 

$

 1.82 

Discontinued operations - Basic

 

 -

 

 

 -

 

 

 0.85 

Total - Basic Earnings (Loss) per Share

$

 0.40 

 

$

 (1.00)

 

$

 2.67 



 

 

 

 

 

 

 

 

Continuing operations - Diluted

$

 0.40 

 

$

 (1.00)

 

$

 0.78 

Discontinued operations - Diluted

 

 -

 

 

 -

 

 

 0.13 

Total - Basic Earnings (Loss) per Share

$

 0.40 

 

$

 (1.00)

 

$

 0.91 



 

 

 

 

 

 

 

 

(1)

The loss (earnings) attributable to noncontrolling interest is allocated between continuing and discontinued operations for the purpose of the EPS calculation



Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings per Share



 

 

 

 

 



Year ended December 31,



2018

 

2017

 

2016

Outstanding stock options (2)

 -

 

 258 

 

 865 

Unvested restricted stock

79,456 

 

 48,869 

 

 -

Warrants - RES (2)

 -

 

 53,608 

 

 576,923 

Warrants - Employees (2)

 11,056 

 

 66,153 

 

 66,153 

Series C Preferred Stock (2)

 -

 

 -

 

 598,991 

Series D Preferred Stock (2)

 -

 

 970,606 

 

 -

Series E Preferred Stock

 668,111 

 

 560,115 

 

 -

Convertible debt

 -

 

 97,269 

 

 77,336 

LTIP common units (1) (2)

 -

 

 49,636 

 

 101,213 

Operating partnership common units (1)

 86,255 

 

 70,722 

 

 46,265 

Total potentially dilutive securities excluded from the denominator

 844,878 

 

 1,917,236 

 

 1,467,746 



(1)

LTIP and common units have been omitted from the denominator for the purpose of computing diluted EPS since the effect of including these amounts in the numerator and denominator would have no impact on calculated EPS.

(2)

Amounts above are weighted average amounts outstanding for the period presented.  These instruments were no longer outstanding at December 31, 2018.